Tag: small business
SMEs in urgent need of cybersecurity overhaul
In an exclusive interview with Cyber Intelligence, Brian Buiwe, Technology Specialist at Sage, explains how SMEs and other smaller organizations urgently need to re-address their approach to cybersecurity. There is a huge knowledge gap among C-suite executives of small-to-medium-sized enterprises (SMEs), as well as among other professionals such as senior doctors and lawyers, where cybersecurity is concerned. Many do not yet grasp the urgent need for cybersecurity. The mainstream media has actually done a very poor job of keeping them informed of the growing threat facing all sectors.
The data currency time bomb
Corporations are not only amassing huge amounts of personal data on their customers as never before but also trading that data, frequently without the customer’s knowledge. As yet, the general public is largely unaware of the uses to which their personal information is being put or whose hands it ends up in. At the same time, companies holding the data must tread an increasingly complex regulatory minefield. According to Chris Diebler, Security VP at cybersecurity company DataGrail: “Companies are all terrified of not having enough data as data is the new currency. However, companies need to think seriously about reducing these vast mountains of data. The value of data must be balanced against the cost and security risk of maintaining it." Companies that fail to secure personal data effectively or trade customer data with third parties face considerable potential brand damage when the details are obtained by bad actors and they suffer identity theft or financial fraud as a consequence.
Generative AI – the current state of play
In an exclusive interview with Cyber Intelligence, Mike Finley, the Co-Founder and CTO of AnswerRocket, a business intelligence platform that deals with big data and AI agents, explains what generative AI can do for companies right now. AI is changing faster than people are capable of understanding. So the general misunderstanding of what AI can do is going to be a lasting problem. The fact is that key scientists believe AI is now capable of improving itself, meaning we are at the start of a runaway path forward. At AnswerRocket, our basic DNA is artificial intelligence (AI) to enable business intelligence (BI). This obviously took a new direction with the widespread introduction of generative AI, but our basic approach remains the same.
FBI reports record cybercrime losses in 2023
The US Federal Bureau of Investigation reports that last year the Internet Crime Complaint Center (IC3) received a record number of complaints, with potential losses exceeding $12.5 billion. Although the figures for 2023 represent a 10 percent increase over 2022 and a 22 percent rise in losses suffered, the FBI fears that even this only represents the tip of a vast unseen iceberg of cybercrime. The report quotes the FBI’s recent infiltration of the Hive ransomware group, which discovered that only 20 percent of victims had reported the incidents to law enforcement authorities.
Google’s Gemini AI Restricted to Answer Global Election Questions – March 13th
Google announced that the Gemini AI chatbot will be restricted to answering any global election-related questions to avoid any potential missteps. Users have found political questions toward Gemini to result in the answer "I'm still learning how to answer this question. In the meantime, try Google Search."
Revenue Losses in Small Businesses due to Cyber Attacks Rise to 42% – October 30th
According to a report by the Identity Theft Resource Center, 42% of small businesses lost revenue due to a cyber attack in 2023. Despite the record rise of cyber attacks (73%) and revenue loss in small businesses, 85% of small business leaders claim to be prepared for cyber attacks.